Deposits and savings SUS report

https://docs.google.com/document/d/14Z6-0fvX1MQD5_RDyTvKf_UrqCDmfCWSoHL-tYCVFb0/edit

Keneth Etuk
QA analyst

Create Flexible Savings.
Flexible savings let users save money with easy access to funds, offering flexible deposits, withdrawals, and goal management without penalties.

This is an important flow for user to be able to save, without this flow user cannot save or earn interest.

Inemesit udo
IT professional

Create Locked Savings.
Locked savings require deposits for a certain period, offering higher interest rates but limiting withdrawals until maturity, promoting long-term saving.

This is an important flow for user to be able to save, without this flow user cannot save or earn interest.

Anthony
Student

Create Fixed Savings.
Fixed savings offer a set interest rate on deposits for a fixed term, with no withdrawal until maturity, ensuring secure long-term savings.

This is an important flow for user to be able to save, without this flow user cannot save or earn interest.

Hussein
Graphic Designer

Top-up Savings.
Top-up into savings lets users add funds to their accounts anytime, boosting their savings goals and interest earnings.

This is an important flow for user to be able to boost their savings goals and interest earnings.

Vincent
Software Engineer

Withdraw from Savings.
Withdraw from savings allows users to access and transfer funds from their savings, offering financial flexibility.

This is an important flow for user to be able to transfer funds from their savings.

Taiwo
Student

Withdraw from Savings.
Withdraw from savings allows users to access and transfer funds from their savings, offering financial flexibility.

This is an important flow for user to be able to transfer funds from their savings.

Abubakar
Small business owner

Manage Savings.
Manage savings lets users track, adjust, and optimize their savings and goals for effective financial planning.

This is an important flow for user to be able to adjust, and optimize their savings and goals for effective financial planning.

Favour
Student

Cancel Savings.
Cancel savings lets users close their savings and access remaining funds, ending their savings commitment.

This is an important flow for user to be able to close their savings and access remaining funds.

Adesina
Office manager

Break Savings.
Break savings lets users withdraw from locked savings before maturity, often incurring a penalty.

This is an important flow for user to be able to withdraw from locked savings before maturity, often incurring a penalty.

Maryam
Small business owner

Rollover Savings.
Rollover savings lets users transfer funds from a maturing account to a new one, usually preserving interest rates.

This is an important flow for user to be able to transfer funds from a maturing account to a new one.

Hafsat
Small business

Create Flexible Savings.
Flexible savings let users save money with easy access to funds, offering flexible deposits, withdrawals, and goal management without penalties.

This is an important flow for user to be able to save, without this flow user cannot save or earn interest.

Michael
Work/small business

Create Locked Savings.
Locked savings require deposits for a certain period, offering higher interest rates but limiting withdrawals until maturity, promoting long-term saving.

This is an important flow for user to be able to save, without this flow user cannot save or earn interest.

Mfonido
Accountant

Create Fixed Savings.
Fixed savings offer a set interest rate on deposits for a fixed term, with no withdrawal until maturity, ensuring secure long-term savings.

This is an important flow for user to be able to save, without this flow user cannot save or earn interest.

Joseph
Small business

Top-up Savings.
Top-up into savings lets users add funds to their accounts anytime, boosting their savings goals and interest earnings.

This is an important flow for user to be able to boost their savings goals and interest earnings.

Daniel
IT support/small business

Withdraw from Savings.
Withdraw from savings allows users to access and transfer funds from their savings, offering financial flexibility.

This is an important flow for user to be able to transfer funds from their savings.

Bola xchange
Small business

Withdraw from Savings.
Withdraw from savings allows users to access and transfer funds from their savings, offering financial flexibility.

This is an important flow for user to be able to transfer funds from their savings.

Abubakar
Small business owner

Manage Savings.
Manage savings lets users track, adjust, and optimize their savings and goals for effective financial planning.

This is an important flow for user to be able to adjust, and optimize their savings and goals for effective financial planning.

Haminat
Small business

Cancel Savings.
Cancel savings lets users close their savings and access remaining funds, ending their savings commitment.

This is an important flow for user to be able to close their savings and access remaining funds.

Adesina
Office manager

Break Savings.
Break savings lets users withdraw from locked savings before maturity, often incurring a penalty.

This is an important flow for user to be able to withdraw from locked savings before maturity, often incurring a penalty.

Maryam
Small business owner

Rollover Savings.
Rollover savings lets users transfer funds from a maturing account to a new one, usually preserving interest rates.

This is an important flow for user to be able to transfer funds from a maturing account to a new one.

Adetunji Kabir
Small business

Create SAYT.
Rollover savings lets users transfer funds from a maturing account to a new one, usually preserving interest rates.

This is an important flow for user to be able to transfer funds from a maturing account to a new one.

AOL lukash innovation
Small business

Withdraw from SAYT.
Rollover savings lets users transfer funds from a maturing account to a new one, usually preserving interest rates.

This is an important flow for user to be able to transfer funds from a maturing account to a new one.

Labake Ayeni
Small business

Manage SAYT.
Rollover savings lets users transfer funds from a maturing account to a new one, usually preserving interest rates.

This is an important flow for user to be able to transfer funds from a maturing account to a new one.

A user with interest of creating a flexible savings plan, has to navigate to savings sections, select a flexible savings, Enter details of savings, review terms and condition and then create plan.

A user with interest of creating a locked savings plan, has to navigate to savings sections, select a locked savings, Enter details of savings, review terms and condition and then create plan.

A user with interest of creating a fixed savings plan, has to navigate to savings sections, select a fixed savings, Enter details of savings, review terms and condition and then create plan.

A user with interest of toping up a savings plan, has to navigate to savings sections, select savings plan, click on topup and enter amount, enter transaction pin and confirm.

A user with interest of withdrawing from a savings plan, has to navigate to savings sections, select savings plan, click on withdraw and enter amount, enter transaction pin and confirm.

A user with interest of adjusting a savings plan, has to navigate to savings sections, select savings plan, click on manage and update plan and confirm.

A user with interest of cancelling a flexible savings plan, has to navigate to savings sections, select savings plan, click on the kebab menu, click on cancel flexible plan, enter transaction pin and confirm.

A user with interest of breaking a savings plan, has to navigate to savings sections, select savings plan, click on the kebab menu, click on break savings, select reason of breakage, enter transaction pin and confirm.

A user with interest of creating a save as you transact savings plan, has to navigate to savings sections, select SAYT savings, Enter details of savings, review terms and condition and then create plan.

A user with interest of withdrawing from SAYT plan, has to navigate to savings sections, select savings plan, click on withdraw, enter transaction pin and confirm.

A user with interest of adjusting a SAYT plan, has to navigate to savings sections, select savings plan, click on settings button, update plan and confirm.

• 5-8 participants per journey

• 18 - 34 years old

• Based in Nigeria

• Male and Females

• Student, Employed and Unemployed

• Has no experience with Moniepoint

• Has no familiarity with the product

• Has saved before on other platforms

• Banks elsewhere, not with Moniepoint

• Lives anywhere in Nigeria 

• Has low to high levels of education and tech skill

• May have immediate need of financial support

• May have saved before

• Interested in saving

Chinedu

35

SME owner (fashion retail)  

Moderate

Uses mobile banking apps (GTBank, Access Bank) for daily transactions and a POS terminal for customer payments. Prefers platforms that offer quick, reliable transfers and clear transaction histories.  

Android phone (Tecno Camon 16) 

Chinedu heavily relies on his POS terminal for business operations and uses fintech apps to track transactions. He is often frustrated by network downtime with POS systems and values transparency in fees. Easy-to-read transaction reports and the ability to quickly reconcile daily sales are critical for his business.

Halima

27  

Market trader

Low

Uses mobile money apps like OPay and PalmPay for personal savings, transfers, and accepting payments from customers. Not particularly tech-savvy, but uses these services due to their ease of access and lower transaction fees compared to traditional banks.

Android phone (Infinix Hot 10)

Halima needs simple, straightforward fintech solutions with minimal steps to complete transactions. She values reliability, especially when receiving payments from customers. She finds features like SMS confirmations and immediate access to funds critical for trust in the service.

Tunde

40

Corporate accountant (mid-sized firm)  

High

Uses digital banking platforms and business fintech solutions for managing payroll, supplier payments, and invoicing. Regularly interacts with multiple banking platforms for business transactions.  

Windows laptop, iPhone 13

Tunde requires fintech solutions that streamline business transactions and offer integration with accounting software. He values features like automated invoicing, bulk payments, and detailed reporting, but he finds it frustrating when banking platforms lack API integrations with their business software. Efficiency and robust security features are critical for business operations.

Amaka

22

NYSC corp member (service year)  

High

Primarily uses personal banking apps like Kuda and ALAT for saving, budgeting, and personal transfers. Also utilises fintech apps for peer-to-peer transfers and mobile payments.

Android phone (Samsung A32)

Amaka prefers fintech apps that offer budgeting tools and savings features. She values gamification and rewards systems, such as cashbacks and referral bonuses, to increase engagement. Her main frustration comes from long transaction processing times or unexpected app downtimes. Security and user-friendly onboarding are important factors for her trust in the app.

Babatunde

50

POS operator  

Moderate

Relies heavily on mobile money apps like Paga and Moniepoint to run his POS business, facilitating cash withdrawals, deposits, and transfers for customers. He also uses traditional banking apps for reconciling the daily balance.

Android phone (Itel A56)

Babatunde’s biggest concern is the reliability of the fintech app or platform, especially in high-traffic areas. He prefers platforms with low transaction failure rates and quick settlement times. Instant customer support is crucial when POS systems encounter issues, and he values platforms with lower transaction fees.

72

2m 57.4s

83%

Journey seems easy to understand by users.

70.3

382m 56.5s

71%

Result was skewed by a user that spent too much time answering SUS questionnaire.

71.3

3m 25.1s

60%

40% of participant dropped off during prototype test

69.7

37m 20.8s

60%

33% of participant dropped off during prototype test

70.7

5m 15.2s

70%

The average time spent on the journey is a lot, a place to improve

76.3

2m 45.3s

60%

The low success rate may be attributed lots of drop-off at different points during the test.

78.5

1m 29.3s

71%

flow was simple and straightforward based on feedback

67.1

2m 39.8s

88%

High success rate, but SUS score suggests journey can be improved

75.5

2m 7.3s

83%

The high success rate and SUS score suggests journey was easy and straightforward for users to achieve their goals

70

1m 35.6s

75%

Flow looking straightforward and easy for users based on feedback

78

1m 51.4s

83%

Journey seems smooth, no negative feedback

72.9

5m 18.1s

75%

Journey was smooth, but the time on task can be improved

77.1

1m 39.7s

100%

Journey seems smooth, no negative feedback

75.8

102m 32.7s

71%

Some testers were stuck at some point during the test, leading to them spending too much time to eventually achieve the flow

85.5

1m 26.9s

100%

Journey was easy for users, no negative feedback

78.1

2m 1.9s

100%

Journey was easy for users, no negative feedback

84.2

1m 30.6s

67%

Journey seems smooths, drop offs at the start and prototype sections highly skewed the results for the success rate

78.8

1m 12.1s

86%

Flow looking straightforward and easy for users based on feedback

72.9

3m 59.3s

75%

Journey was easy for users, no negative feedback

77.5

1m 23.2s

100%

Journey was easy for users, no negative feedback

76.4

2m 34.7s

78%

Journey was easy for users, no negative feedback

72.5

32m 46.3s

75%

A tester was stuck at the over section during the test, leading to them spending too much time to eventually complete the flow

67.1

1m 56.0s

100%

The poor SUS score indicates the journey needs to be improved

85.5

1m 28.2s

56%

The low success rate stems from high drop off rate after the instructions section of this test

Some participants complained about difficulty finding some buttons, especially when it come to breaking or canceling a savings plan.

Participants also mentioned that the “copy” used in some places were not clear enough.

Some participants talked about how short the journeys are, they can create a savings plan very quickly, top up and withdraw from a plan quickly.

A suggestion that stands out was the use of better “copy” to convey messages clearer